HomeMy WebLinkAboutApproving sale of Real Estate for less than the appraised valueAttest:
RESOLUTION
N0. 806 -80
Passed by the Common Council of the City of South Bend, Indiana,
August 25, 19 80 .
aL. V L11
Attest:
ity Clerk
of Common Council.
Presented by me to the Mayor of the City of South Bend, Indi
August 26, 19 80
q,� /�— • City Clerk
Approved and signed by me 0-'U.4 '�- C 19 E-0.
����
9
Mayor
RESOLUTION NO. $CD ( - go
A RESOLUTION APPROVING SALE OF REAL ESTATE
FOR LESS THAN THE APPRAISED VALUE
WHEREAS, real estate located at 1245 Van Buren Street,
South Bend,described as Lot Numbered Five (5) as shown on the
recorded Plat of Ward's Subdivision of Lots Numbered One
Hundred and Six (106), One Hundred and Seven (107), One Hundred
and Eight (108), One Hundred and Nine (109) and One Hundred
and Ten (110) in Cushing's Fifth Addition of the City of South
Bend, St. Joseph County, Indiana, is now vacant and the Common
Council has heretofore approved its sale as surplus city real
estate; and
WHEREAS, this real estate has been appraised for Five
Hundred Fifty Five Dollars ($555.00) and has been offered for
sale by the City; and
WHEREAS, the prospective purchaser of said real estate,
being a neighbor who desires to construct a garage on the
property, has sought to obtain title insurance on the property
preparatory to purchase, but the title has been determined to
be unmerchantable because of certain defects in the filing of
the original mechanic's lien by the contractor hired by the City
to demolish a substandard structure thereon, and the City fore-
closure action on the mechanic's lien and purchased by the City
at sheriff's sale, has, therefore, resulted in the City obtain-
ing title to the real estate which is defective and unmerchantable;
and
WHEREAS, the City has expended court costs in the amount
of $55.00 in the mechanic's lien foreclosure action, and a $65.00
appraisal fee, and the prospective purchaser has offered to pay
this expense of $120.00 to the City as purchase price for this
property; and
WHEREAS, Section 14.5 of the Municipal Code of the City
of South Bend requires approval of the Common Council for the
City to sell surplus real estate for less than its full appraised
value.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of
the City of South Bend, Indiana:
SECTION I. The Common Council of the City of South Bend
has hereby authorized the sale of real estate located at 1245
Van Buren Street, South Bend, Indiana, and described as Lot Num-
bered Five (5) as shown on the recorded Plat of Ward's Sub-
division of Lots slumbered One Hundred and Six (106), One Hundred
and Seven (107), One Hundred and Eight (108), One Hundred and
Nine (109) and One Hundred and Ten (110) in Cushing's Fifth
Addition in St. Joseph County, Indiana, for the sum of One Hundred
Twenty Dollars ($120.00), being less than the full appraised
value thereof.
SECTION II. This Resolution shall be in full force and
effect from and after its passage by the Common Council, and
its approval by the Mayor.
4 leber of A . iLt_ Z,_,
the Common Counci
FILED IN CLL►('S OFFICE
'fit €5ENTE.0 -�
NOT 4PROY0 AUG 2 0 1980
ADOPTED' Irene Gammon
CITY CLERK, SOU IN BEND, IND.
CITY o f SOUTH B E N D
:. �
ROGER O. PARENT, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
Richard L. Hill August 20, 1980 219/284 -9241
City Attorney
Robert M. Parker
Chief Deputy
Thomas Bodnar
Roland Chamblee
Terry Crone
Gregory D.Loughridge South Bend Common Council
James A. Masters 4th Floor Council Chambers
Kathleen Skiba County -City Building
South Bend, Indiana 46601
Dear Council Members:
The enclosed Resolution seeks authority to sell surplus
real estate owned by the City located at 1245 Van Buren
Street, to a neighbor who wants to landscape the property
and build a garage on it. The Council has heretofore
determined this to be surplus real estate and appraisal
has been made for $555.00. The title to the property,
however, is defective because the original lien, filed
by the contractor who demolished the property, contained
an incorrect legal description, and,therefore, the City
cannot convey clear title to this purchaser. The buyer
is willing to pay the City costs for court costs and
appraisal fees of $120.00 for this property, and will then
later take his own action to clear title by an action for
adverse possession after a period of 10 year ownership.
It is recommended that because of the defective title,
that the City accept the offer of $120.00 and allow this
property to get placed back on the taxrolls.
Very truly yours,
iezd 104 At�
Robert M. Parker
Chief Deputy City Attorney
RMP:az
Enclosure